China's Longcheer Q3 net profit rises on smartphone segment, tablet business growth

Overview

• China electronics manufacturer's Q3 revenue rose 22% yr/yr; net profit up 17%

• Q3 net profit fell 17% yr/yr

• Tablet and AIoT businesses saw strong Q3 revenue growth, up 72% and 41% respectively

Outlook

• Company did not provide specific financial guidance for future quarters or the full year

Result Drivers

• SMARTPHONE SEGMENT - Co said Q3 smartphone revenue rose 12% yr/yr, helped by a shift to higher-end models and expansion into new form factors

• TABLET BUSINESS - Co attributed 72% yr/yr Q3 tablet revenue growth to increased investment in key supply chains and improved competitiveness

• AIOT AND WEARABLES - Co said Q3 AIoT revenue rose 41% yr/yr, citing new orders for wearables and AI hardware projects from leading domestic customers

Key Details

Reuters Recommended Reads

• Oct 29 - China's Fibocom Wireless Q3 revenue rises on increased inventory stock-up

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)